Why Qualcomm Stock Jumped Today

Shares of Qualcomm (NASDAQ: QCOM) were rising this morning after the company reported second-quarter results that outpaced analysts' expectations. 

The tech stock rose by as much as 6.4% and was up 4.1% as of 10:17 a.m. EDT.

Qualcomm's second-quarter sales increased 52% from the year-ago quarter to $7.92 billion. That figure was higher than the $7.62 billion consensus estimate that analysts were expecting. Additionally, Qualcomm's adjusted diluted earnings per share skyrocketed 116% to $1.90, which outpaced the consensus estimate of $1.67 per share for the quarter. 

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Source Fool.com